CZ Denies Binance Ties as Aster's Surge Fuels Sustainability Doubts

Binance founder Changpeng Zhao (CZ) has confirmed that several former Binance employees are part of the Aster DEX team, while his venture firm, YZi Labs, holds a minority stake in the project. During a September 27, 2025, Twitter Spaces session, CZ clarified that neither he nor Binance officially supports Aster, despite market speculation linking the project to his influence. He emphasized that the team’s composition—featuring ex-Binance staff—was a “completely correct” but coincidental alignment, not an endorsementCZ Clarifies Binance Has No Official Role in Aster DEX’s^[1].

Aster, a decentralized perpetuals exchange built on the BNB Chain, has seen rapid growth, achieving $46.9 billion in trading volume within 24 hoursCZ Clarifies Binance Has No Official Role in Aster DEX’s^[1]. Its native token, ASTER, surged 2,227% last week, peaking at $2.40 before consolidating around $1.98 amid broader market correctionsCZ Clarifies Binance Has No Official Role in Aster DEX’s^[1]. The project’s rise has drawn attention due to its aggressive metrics, including a $3.4 billion market cap, and CZ’s public engagement with the platformCZ Clarifies Binance Has No Official Role in Aster DEX’s^[1].

YZi Labs’ minority investment in Aster has not translated into direct project backing, according to CZ. The firm’s participation, revealed in a November 2024 funding round, predates Aster’s recent prominenceWhat is ASTER and Why is it Pumping? CZ Binance Shows…^[8]. Meanwhile, the exchange’s success has sparked debates about its sustainability. On-chain data shows 93% of ASTER’s supply concentrated in five wallets, raising concerns about market manipulationWhat is ASTER and Why is it Pumping? CZ Binance Shows…^[8]. Critics argue the token’s valuation lacks fundamental support, with trading volumes and total value locked (TVL) potentially inflated$ASTER Binance Listing Fuels October Price Speculation^[3].

CZ’s involvement has amplified both hype and scrutiny. While he praised Aster’s growth and BNB Chain integration, he reiterated that Binance has no formal role in the project. Market observers note that CZ’s endorsements often drive short-term price spikes, as seen with Aster’s 7,000% surge in September 2025Aster's 7,000% Crypto Rally: Why This Token Broke the Internet…^[9]. However, the token’s volatility has prompted caution, with analysts warning of potential corrections if support levels below $2.2 failCZ Clarifies Binance Has No Official Role in Aster DEX’s^[1].

The project’s trajectory highlights tensions in the decentralized derivatives market. Aster competes with platforms like Hyperliquid, which dominates the sector with $335 billion in monthly trading volume. Binance’s strategic interest in decentralized exchanges is evident, but Aster’s success remains unproven beyond speculative momentumAster's 7,000% Crypto Rally: Why This Token Broke the Internet…^[4]. CZ’s recent advocacy for decentralized derivatives underscores Binance’s broader push to counter centralized rivals, though Aster’s long-term viability will depend on user adoption and product differentiationWhat is ASTER and Why is it Pumping? CZ Binance Shows…^[8].